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10 June 2009 - Gide Loyrette Nouel Casablanca advises Groupe Pierre et Vacances on its strategic partnership agreement to develop tourism and real estate projects in Morocco:
On 27 May 2009, Groupe Pierre et Vacances signed a strategic partnership agreement with Moroccan group CDG (Caisse de Dépôt et de Gestion) for the development of tourism and real estate projects in Morocco. Groupe Pierre et Vacances plans a three-phase project over five years incorporating the construction and management of 15,000 beds in 3,000 homes and apartments.
The first phase of the development, due for completion in 2012, will involve a total estimated investment of EUR 220 million, including EUR 100 million for the real estate company and EUR 120 million for the real estate promotion company.
Groupe Pierre et Vacances was advised by international law firm Gide Loyrette Nouel (GLN), working in close co-operation with Marianne Mazas, general counsel of Groupe Pierre et Vacances. The GLN team in Casablanca was led by partner Julien David, assisted by Romain Berthon (associate, for real estate aspects) and Loubna Kissi (associate).
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